Belvoir FCU Helps Fort Belvoir Community Cope with Sequestration

The $310 million Belvoir Federal Credit Union in Woodbridge, Va., which has served Fort Belvoir and U.S. Armed Forces community since 1946, said it has bolstered its efforts to help members impacted by federal payroll cuts during the current sequestration.

Belvoir FCU has formed services to support members, developed emergency loan products, and educated members and employees on ways to reduce the impact of sequestration.

So far, the 26,000-member credit union has aided 20 members with financial coaching, four members with emergency loans, seven members with loan workout options, six members with a skip-a-pay, and answered several questions from concerned members, according to Belvoir officials.

Belvoir also hosted four seminars with a total of 50 participants on topics such as “Taking Charge in Tough Times” and “It’s a Matter of Life and Debit”, the suburban Washington credit union said.